Three reasons why telcos should enter the rapidly growing blockchain market.
Leading global BSS provider Nexign and Bubbletone, the first decentralised global telecom platform that allows mobile network operators, phone users, and service providers to interact securely and directly, have recently announced a joint solution based on both BSS and blockchain technologies. The combined solution is the first of its kind in the global telecoms market, and represents a new step forward for telecom operators worldwide, enabling new monetisation streams by attracting new clients and providing new types of services.
Following positive feedback across the market, Nexign and Bubbletone have extended their partnership by agreeing to exclusivity terms across sales, business and product development efforts on a global scale. This development will prevent competitors from disrupting the partnership and undermining the “first mover” advantage that both companies have obtained. One of the key benefits of this collaboration is the creation of a global marketplace for digital players and the ability to offer individually determined volumes and qualities of services to end users, a possibility which did not exist previously.
Alexey Vedin, Nexign’s Network Monetisation Product Director, describes how CSPs can benefit from blockchain-driven BSS by listing three reasons for telecom operators to tap into the new blockchain technology market.
Blockchain in telecom: new opportunities for CSPs
CSPs have traditionally owned the entire customer value chain – from building network infrastructure to providing core and value-added services. However, tough competition with Over-The-Top (OTT) services and "digital invaders" as well as constantly decreasing revenues from traditional offerings are causing this chain to break up, obliging operators to change their business paradigm, search for new revenue sources and cut costs.
Blockchain has the potential to become one of the technologies that will enable operators to transform into digital service providers (DSPs) and secure a strong position in today’s competitive and rapidly changing marketplace. According to global market research store Research and Markets, blockchain in the telecom market is predicted to grow from USD 46.6 million in 2018 to USD 993.8 million by 2023.
The disruptive potential of blockchain lies in its simplicity.
Blockchain is an open, distributed ledger technology for records of any type. Records are placed in blocks linked to each other to form a continuous chain, an infinite "digital chronicle". The key feature of blockchain is decentralisation, with all users representing a network of computers, each one storing blockchain data. This makes the network very stable: a blockchain continues to exist even with only one active user. Blockchain records are open, so each user can verify their validity. Blockchain technology also employs cryptographic methods to protect data and users. Interestingly, trust does not depend on a controlling stakeholder or an intermediary, but is instead integrated into the very mechanics of the data chain. Moreover, each blockchain record is fixed in time, is read-only and cannot be erased or changed.
Three reasons why you should enter this rapidly growing blockchain market:
Reason #1 – Become a global DSP and cooperate with other players
The most important benefit of blockchain for CSPs is the opportunity to accelerate revenue streams from roaming visitors. We offer a new approach for involving visitors in your mobile network and significantly increasing revenue without suffering cannibalization:
- requesting and buying personal quotes for each subscriber makes fraud schemes impossible;
- CSPs have two controls – TAP and local RT Roaming Control Server;
- reusing existing partner contracts allows results to be achieved faster.
Reason #2 – Open the digital world for your clients without any intermediators
The second key reason for CSPs to enter the blockchain market is the complete absence of intermediaries. Thanks to the combined solution provided by Nexign and Bubbletone, you can:
- offer your own authentication service, for any kind of device or application;
- publish your own tokens and sequences;
- sell it to your partners, allowing you to serve your clients worldwide; and
- rest assured that e-SIM, IoT Apps tokens and any ASP/OTT subscriptions are supported.
Reason #3 – Benefit from clearing house support
CSPs get an open and transparent engine, helping to avoid any mistakes in final bills. This solution is useful for cases involving partnership management, including interconnect, roaming, VAS and others.
- blockchain as a service helps to mitigate settlement risks before the billing period ends;
- partial transactions are checked through the blockchain network;
- the peer-to-peer model of interaction provides support for multiple parties in each flow within a single common blockchain network.
Blockchain technology is a powerful tool, and one which provides many exciting opportunities for boosting your revenue and creating new services for your customers. Don’t miss the chance to enable your digital transformation with blockchain-driven BSS. Act now!